New Jersey Compliance Renewable Energy Certificate Class I Future

Description

Physically delivered New Jersey Class I Renewable Energy Certificates (“New Jersey Class I REC”) where a New Jersey Class I REC is an electronic certificate issued by the PJM Environmental Information System Generation Attribute Tracking System ("PJM GATS") for qualifying generation.

Market Specifications

Trading Screen Product Name

REC-NJ Futures

Trading Screen Hub Name

REC-NJ CI

Commodity Code

NJN

Settlement Method

Physical delivery

Contract Size

100 MWh representing 100 Class 1 RECs

Currency

USD

Minimum Price Fluctuation

The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.

Listing Cycle

1. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it determines for the current year and forward for up to ten years.

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, October, November and December

Last Trading Day

Three Business Days prior to the last Business Day of the delivery month.

Deliverable Instruments

New Jersey Class I RECs eligible for delivery are those which are eligible to meet the Class I Renewable Energy minimum requirements specified in N.J.A.C. 14:8-2-3 under the New Jersey Renewable Energy Portfolio Standard promulgated under N.J.A.C. 14:8 verified and qualified by the NJ Board of Public Utilities having a vintage year designation that corresponds to the specified vintage of the expiring contract..

Registry

PJM GATS

MIC Code

IFED

Clearing Venues